According to a statement from the Nigerian National Petroleum Corporation (NNPC), Nigeria’s domestic gas demand will rise to about 10 billion cubic feet, bcf, per day within the next five years, from current demand of about two billion cubic feet per day.
Joseph Dawha, group managing director (GMD), NNPC, said that the increased demand will be driven by the growth in the country’s power sector.
He said rising demand from the power sector is fuelling growth in the domestic sector, with demand set to hit 5 bcf per day in 2017, before rising to 10 bcf per day by 2020. To meet this demand, Dawha, however, stated that the NNPC and the federal government have embarked on a very aggressive implementation of the Gas Master Plan to meet the astronomical increase in gas demand.
The NNPC GMD said over 500 kilometres of pipelines have been laid and many more kilometres planned in the next two to three years. The federal government had a couple of weeks ago, signed an agreement with eight oil companies for the supply of natural gas to 10 power plants in the country, with the aim of boosting power supply across the country.
Meanwhile, the value of Nigeria’s crude oil, according to trading sources, increased as higher refining margins supported by healthy light end and middle distillate cracks boosted the West African crude market.

Johnson Alabi
Leave a reply